Results 4,901-4,920 of 5,587 for speaker:Kevin Humphreys
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Surely it will come back to the Central Bank. If the Central Bank made a report on PwC to the CARB, surely it expects to get an answer or be notified of the outcome of its investigation. Mr. Cullinan must have made those inquiries.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Does the complaint disappear? Will Mr. Cullinan explain to me the steps the Central Bank has taken?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: By the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Is there not an onus on them to come back to the Central Bank even though it reported them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: That is unsatisfactory.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: They would notify the Central Bank of the outcome of the investigation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: What Mr. Cullinan is saying is that they are self-regulating.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Has the Central Bank made a report to a self-regulating body?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Does Mr. Cullinan think it is satisfactory that it is a self-regulating body considering what has happened in this country?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Yes. Does the Central Bank think it is appropriate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Thank you, Chairman.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: It has been highlighted that a problem could arise in that regard that must be clarified.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Yes, but wherever it falls we must address it. Quinn Insurance Limited, QIL, was operating in the insurance market in England. What regulation did the United Kingdom authorities impose when dealing with QIL?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: When the UK authorities highlighted this to the Central Bank, we should have been much more vigilant.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: It is more of a statement. On the liabilities regarding the company's activities in the UK, would it have been good practice to hold the money in sterling for the liabilities when policies were taken out? What would be the norm in that regard?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: We were doing the top-up. It was mentioned in the report that the 20 subsidiaries were dealt with as a reserve but there was no regulation within those. Has that gap been closed or is it intended to close it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: It is not good practice. It is not the norm to see those kind of entities being used in this manner.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Did they take the bank's concerns on board at that time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: This is not where my expertise lies but Mr. Cullinan said they formed a sub-committee to examine the 20 subsidiary companies. Were the delegates happy enough with the formation of the sub-committee to examine this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kevin Humphreys: Reference was made to resources provided to the Central Bank. I am of an age with those who were affected by the PMPA. Reference was made to brokers not working with Quinn Insurance Limited and inquiries were being made from outside the State. For the Central Bank to say it was under-resourced and that it could not act unless there was firm evidence does not hold with the public, and it...